The Hindu Business Line : Bad day for stock futures

Turnover continued to be on the lower side in the F&O segment. The total derivatives turnover went down to Rs 40,900 crore from the previous day’s Rs 42,200 crore. The discount of Nifty February future widened further to 33.25 points on Thursday on account of heavy squaring-off of long positions and also due to additions of fresh short positions.

The February Nifty futures ended down at 5,100 points while the benchmark spot index fell 3.56 per cent to 5133.25 points.

The discount was 25.8 points on Wednesday. The February future added about 4 per cent open interest.

While 5300-strike was the most active among the call side, the 5000-strike was the most active among put options.

The strong action on the Nifty 5000 put suggests, that the benchmark index faces strong support around 5000 level.

Stock futures

RNRL was the most active among stock futures. Though it was on the positive side for most part of the day, the RNRL Feb future succumbed to selling pressure and lost by about 6.94 per cent.

Open interest positions dropped by whopping 16 per cent indicating the nervousness among the investors.

Among the other big losers are Jindal Steel (7.34 per cent), IFCI (6.77 per cent), Reliance Communications (5.84 per cent) and NTPC (5.63 per cent).

FII selling continues

Overseas investors continued their selling in the F&O segment. They were net sellers to the tune of Rs 265 crore on Thursday.

While they net sold Rs 512.28 crore on index futures, they remained net buyers to the tune of Rs 45.92 crore on index options and Rs 206.73 crore on stock futures.

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